Iris Biometric Market Size, Share, Growth Report 2030

Iris Biometric Market

Iris Biometric Market - by Component (Hardware, Software), Products (Smartphones, Tablets And Notebooks, Smart Watches, Pcs And Laptops, Scanners, And Others), Application (Access Control And Time Monitoring), And End-Use Industry (Government, Military And Defense, Banking And Finance, Healthcare, Consumer Electronics, Automotive, And Travel And Immigration): Global Industry Perspective, Comprehensive Analysis and Forecast 2020 – 2026

Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-205 Published Date: Oct-2020 Status : Published

According to the report published by Zion Market Research, global demand for Iris Biometric market was valued at approximately USD 1.74 Billion in 2019, and is expected to generate revenue of around USD 3.76 Billion by end of 2026, growing at a CAGR of around 13.70% between 2020 and 2026.

According to the report published by Zion Market Research, global demand for Iris Biometric market was valued at approximately USD 1.74 Billion in 2019, and is expected to generate revenue of around USD 3.76 Billion by end of 2026, growing at a CAGR of around 13.70% between 2020 and 2026.

Global Iris Biometric Market SizeRequest Free Sample

Global Iris Biometric Market: Overview

Iris biometric is an automated method used for the identification that uses mathematical pattern-recognition techniques on video images of one or both of the irises of an individual's eye, whose complex random patterns are unique, stable, and can be noticed from a certain distance. Iris recognition systems capture images of an iris while it is been illuminated by the light in the near infrared wavelength band (700 to 900 nm) of the electromagnetic spectrum. In the iris biometric system, a template that is created by imaging an iris is compared with stored template in the database for the purpose of identification or verification. Different methods used for comparison process are one-to-one template matching and one-to-many template matching.

Global Iris Biometric Market: Growth Factors

Newer technology advancements and growing use in surveillance, access, and identity applications is the major factor driving the growth of the global iris biometric market. Constant use of this technology in national ID programs, healthcare, banking and financial services, and system and network access control is also anticipated to impact the growth of the market in a positive way in the near future. In addition, smart phone manufactures are showing great interest in using iris biometric technique for the improvement of safety standards. In addition, national security agencies are also using the iris scanning technology for the purpose of verifying the identity of the immigrating people from other countries. On the other hand, lack of appropriate standards and high costs may hamper the growth of the global iris biometric market in future.

Global Iris Biometric Market: Segmentation

On the basis of components, the global iris biometric market is segmented as hardware components and software components. Based on the product, the global market is further segmented as smartphones, tablets and notebooks, smart watches, PCs and laptops, scanners, and others. On the basis of application, the global iris recognition market is segmented as access control and time monitoring. Further based on the end-use industry, the global market is segmented as government, military and defense, banking and finance, healthcare, consumer electronics, automotive, and travel and immigration. Out of these, the government segment accounted for the largest share of the market.

Report Scope:

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Iris Biometric Market: Regional Analysis

Europe dominates the global iris biometric market followed by North America owing to its high demand in the region. Asia Pacific is anticipated to witness the fastest growth followed by Middle East. Owing to the services such as access control, national identity, time and attendance monitor, and public safety provided by this technique, the iris biometric market is expected to experience high growth in the future.

Global Iris Biometric Market: Competitive Players

Some main participants of the Iris Biometric market are Smartmatic, MorphoTrak, Smart Sensors Ltd., Anviz Global, SRI International, and Iris ID Inc. Other players influencing the global market are BioEnable Technologies Pvt. Ltd., Aditech Ltd., IrisGuard Inc., Human Reco Systems, AOptix Technologies Inc., and EyeLock Corp.

Iris Biometric Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Newer technology advancements and growing use in surveillance, access, and identity applications is the major factor driving the growth of the global iris biometric market. Constant use of this technology in national ID programs, healthcare, banking and financial services, and system and network access control are also anticipated to impact the growth of the market in a positive way in the near future.

According to Zion Market Research, global demand for Iris Biometric market is expected to generate revenue of around USD 3.76 Billion by end of 2026, growing at a CAGR of around 13.70% between 2020 and 2026.

Europe dominates the global iris biometric market followed by North America owing to its high demand in the region. Asia Pacific is anticipated to witness the fastest growth followed by Middle East.

Some main participants of the Iris Biometric market are Smartmatic, MorphoTrak, Smart Sensors Ltd., Anviz Global, SRI International, and Iris ID Inc. Other players influencing the global market are BioEnable Technologies Pvt. Ltd., Aditech Ltd., IrisGuard Inc., Human Reco Systems, AOptix Technologies Inc., and EyeLock Corp, among others.

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